Aptiv posted lower first-quarter profit on Thursday, as surging raw material prices and a shortage of electrical components hindered the auto part supplier's deliveries in the quarter.
Net income during the first quarter fell 74 percent to $73 million while revenue rose 4 percent to $4.2 billion, Aptiv said in a statement Thursday.
Aptiv, whose primary customers include Stellantis, Volkswagen and General Motors, supplies several key electrical components and software for modern vehicles that are used for everything from infotainment systems to integrated driver safety systems.